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REGISTERED NUMBER: OC437915 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

FOR

NISREEN PROPERTIES LLP

NISREEN PROPERTIES LLP (REGISTERED NUMBER: OC437915)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NISREEN PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DESIGNATED MEMBERS: Mrs B Gill
Ms J K Virk





REGISTERED OFFICE: Harben House Harben Parade
Finchley Road
London
NW3 6LH





REGISTERED NUMBER: OC437915 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

NISREEN PROPERTIES LLP (REGISTERED NUMBER: OC437915)

BALANCE SHEET
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 9,333,091 -
Investment property 5 - 29,500,000
9,333,091 29,500,000

CURRENT ASSETS
Debtors 6 1,245,363 35,815
Cash at bank - 53,919
1,245,363 89,734
CREDITORS
Amounts falling due within one year 7 2,400 587,914
NET CURRENT ASSETS/(LIABILITIES) 1,242,963 (498,180 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,576,054

29,001,820

CREDITORS
Amounts falling due after more than one
year

8

-

18,351,007
NET ASSETS ATTRIBUTABLE TO
MEMBERS

10,576,054

10,650,813

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10,576,054

10,650,813

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10,576,054 10,650,813
Amounts due from members 6 - (34,815 )
10,576,054 10,615,998

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 5 April 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

NISREEN PROPERTIES LLP (REGISTERED NUMBER: OC437915)

BALANCE SHEET - continued
5 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 20 February 2024 and were signed by:





Mrs B Gill - Designated member

NISREEN PROPERTIES LLP (REGISTERED NUMBER: OC437915)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023


1. STATUTORY INFORMATION

Nisreen Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 9,333,091
At 5 April 2023 9,333,091
NET BOOK VALUE
At 5 April 2023 9,333,091

NISREEN PROPERTIES LLP (REGISTERED NUMBER: OC437915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2022 29,500,000
Additions 423,128
Disposals (29,923,128 )
At 5 April 2023 -
NET BOOK VALUE
At 5 April 2023 -
At 5 April 2022 29,500,000

The properties were valued at £29,500,000 by the Directors at 5 April 2022.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,000
Other debtors 1,245,363 34,815
1,245,363 35,815

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 203,050
Other creditors 2,400 384,864
2,400 587,914

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 18,351,007

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 18,351,007